THE COAL VEND

Taranaki Daily News, Volume LIII, Issue 281, 20 April 1911, Page 5

THE COAL VEND

t ITS ALLEGED OBJECTS. A MONOPOLY OF TUE CARRYING TRADE. By Cable—Press Association— Copyright Sydney, April 19. Counsel for the Crown, in continuing his opening address in the Coal Vend cases, used further lengthy arguments in support of his contention that the prices fixed by the Vend were excessive, and that it cut prices in order to crush certain firms outside the Vend. He claimed that the practice of the combine was to arrange that one person should get a contract, and others put in bogus tenders. He quoted figures to show that since the alleged combine had been formed there had been an excessive rise in price through its action. He declared that in 1907 an agreement was eome to between the colliery proprietors and the Union Company of much the same nature as that between the colliery proprietors. They agreed to give the monopoly of the carrying trade to the Union Company, with certain exceptions. The Crown alleged that it was an implied term of the agreement that the inter-State steamship proprietors should keep' out of the New Zealand and Tasmanian trade, and the Union Company keep out of the eoa'stal trade. That implied term was largely a matter of inference from a letter. BUYERS AT THE MERCY OF THE VEND. EXTRAVAGANT PRICES FOR COAL. Received 19, 9.50 p.m. Sydney, April 19. Mr. Wise has concluded his opening address. He mentioned specific instances of when public bodies in other States were clamoring for coal the mines were not worked to their full capacity. At the lowest possible estimate, the increased profits of the Vend since 1905 were £600,000 upon inter-State trade only. The Crown submitted that the greater part of this increase was illegitimate and due to the combination. Where there was no competition, buyers were at their mercy. They charged extravagant prices, and sold the same coal under the same conditions at different prices for different parts of Australia.